CHECKLIST

FAQ’s

Bookkeeping

Is outsourced accounting and bookkeeping good for us?

The answer is “YES” because you need a balance of skills not available from a single accounting resource. Outsourcing is the most cost-effective way of getting what you need and helping you to grow by addressing your sophisticated information requirements.

How much will outsource bookkeeping and accounting cost?

This depends on the volume of work/transactions to be processed, the frequency of visits to your place of business and the complexity of any special report you need. We agree a fixed monthly fee with you in advance so there are never any surprises. The fee will always be value based to ensure that you are getting the highest level of service for a lower cost than hiring your own accountants. We’ll be glad to visit to you at your premises, free of charge or obligation and after assessing your needs, give you an estimate of what our services would cost you. To have an idea please call us or send us an email with your business details.

How does outsourcing bookkeeping and accounting make sense economically?

Small businesses need a mixture of different skills in the bookkeeping and accounting field. You need someone to record transactions regularly into the accounting system. You need another resource at a more advanced level to prepare your financial reports and ensure they are accurate and you need a third more senior accountant to answer the trickier financial questions that come up all the time in business. You will never be able to hire one person to do all of the above and the least you will pay for a junior accountant is $30,000 plus benefits annually while a senior accountant will cost you upwards of $50,000 annually. Since we provide everything you need for less than the cost of the cheapest internal resource, the financial benefit is obvious.

Do we have to send you all our papers?

It depends on your requirements. If you want to do your work at your place then we do all the work at your place of business. This way you retain control over your paperwork and we can deal with your questions on the spot or if you want to do your work at our place then you have to send all papers to us. Remember! We also provide documents pick and drop services, so you do not need to visit our place frequently.

Do we need to change our accounting software?

Most probably not as we have expertise to use various most popular accounting software like QuickBooks, Simply Accounting, Business Vision and MYOB. The majority of our clients use QuickBooks because it is the most user-friendly and flexible for small business accounting. QuickBooks is streets ahead of AccPac, Simply Accounting and MYOB. Plus for general applications, we recommend QuickBooks because we believe it to be the best solutions for our clients.

Are there additional costs involved?

Depending on the state of your existing accounting system and there will be a certain amount of setup work to be done. This would normally be equivalent to about one month’s billing. Apart from that, your monthly charge covers everything. If special work is required (for example, new information reports of a year-end file for your auditors) we will be happy to quote you in advance.